Brexit talks set to resume. What’s next for the GBP?
UK and EU negotiators are due to resume face-to-face talks after a period of forced quarantine for some key officials. The EU's chief negotiator, Michel Barnier, is also due to update the bloc's 27 governments on the state of the negotiations.
While some ground has been made, there are still big disagreements in three areas. These are:
- Access to British fishing waters
- Maintaining a level competitive playing field
- How any agreement would be forced
However, time is running out as the EU needs to start the ratification of a deal by the end of November. Otherwise, it becomes difficult to pass in time. Options are being explored on how to ratify a deal without the need for it to be translated into 24 different languages.
At midnight in Brussels on 31 December, the UK's membership to the single market and customs union will end. Will there be a trade deal in place or not?
Did you know that you can speculate on the direction of GBP against other currencies using Contracts for Difference (CFDs)? This allows you to potentially profit from both rising and falling markets. Get started with a free demo trading account today!
How to trade EURGBP with Admiral Markets UK Ltd
If you are feeling bullish or bearish on the price direction of EURGBP you can speculate on the direction using CFDs. To get started, follow these five simple steps:
- Log in to your existing Admiral Markets trading account, or open a live or demo trading account in just a few minutes.
- Click Trade on your chosen account which will direct you to the Admiral Markets MetaTrader Web Platform.
- Type in EURGBP and choose your instrument at the bottom of the Market Watch search box and then drag the symbol onto the chart.
- Use the one-click trading feature on the chart or right-click on select Trading -> New Order.
- Choose your entry, stop loss and target levels and position size (volume) and then confirm the trade.
Source: Admiral Markets MetaTrader 5 Web, EURGBP, Weekly - Data range: Jun 15, 2014, to Nov 27, 2020, performed on Nov 27, 2020, at 7:07 am GMT. Please note: Past performance is not a reliable indicator of future results.
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